Frasers Hospitality will open a second serviced residence in Bangkok next year.
The 239-unit Modena by Fraser will join the firm's other Thai outlet, the 163-unit Gold-Standard Fraser Suites Sukhumvit serviced residence in central Bangkok.
The new serviced residence is designed for "road warrior" business travellers seeking affordable home comforts. Modena by Fraser Bangkok will be part of the FYI Centre mixed-use development in Rama IV Road, directly opposite the Stock Exchange of Thailand.
Ascendas India Trust
Ascendas India Trust (a-iTrust) reported an 8 per cent year-on-year rise in distribution per unit to 1.37 cents for the second quarter, said the trust manager yesterday.
Total property income for the three months to Sept 30 grew 10 per cent to 1.7 billion rupees (S$36.5 million), boosted by rental income from newly acquired property and overall improvements in portfolio rental and occupancy.
Higher revenue growth coupled with lower expenses saw second-quarter net property income rise 19 per cent to 1.1 billion rupees.
A distribution of 2.74 Singapore cents has been declared.